RITES Ltd secures major Turnkey Railway Contract of Rs. 294.67 Crore

Posted On:
2018-09-07 17:34:06

RITES has secured an additional work of Rs. 294.67 Crores from Ministry of Railways for doubling of Dharmavaram Penukunda rail lines (41.5 Kms) in South Western Railways. Earlier, RITES was awarded doubling work for 90.2 Kms of Dharmavaram Penukunda rail lines in South Central Railways for a cost of Rs. 666.38 Crores from Ministry of Railways.

The said work has been awarded to RITES on cost plus basis in which RITES will be paid fee at the rate of 8.5% of the cost of work.

Shares of RITES Ltd. was last trading in BSE at Rs.261 as compared to the previous close of Rs. 264.55. The total number of shares traded during the day was 93428 and deliverable quantity was 19925 shares or 21.33%.

The stock hit an intraday high of Rs. 265.10 and intraday low of 258.05.